Founded in January 1974 as a banking section of the Nyeri District Co-operative Union, Taifa Sacco originally aimed to provide banking services to rural farmers in Nyeri District. By 1998, the banking section transitioned into a fully-fledged savings and credit cooperative society, becoming Nyeri Farmers Credit & Savings Co-operative Society, commonly referred to as Nyeri Farmers Sacco.
Over time, demand for savings and credit services grew beyond the agricultural sector, attracting members from various sectors who were not necessarily farmers. This shift led to a re-engineering of products and services to cater to a more diverse membership. In 2005, the Sacco rebranded to Taifa Sacco to reflect its expanded reach and broadened membership base.
Taifa Sacco Membership Eligibility
Taifa Sacco welcomes members from all sectors of the economy, providing an inclusive financial platform. Membership is open to:
- Businesspersons – Including small, medium, and large businesses.
- Institutions and Companies – Corporate entities looking for saving and credit solutions.
- Salaried Individuals – Employees in both private and public sectors.
- Jua Kali Artisans – Informal sector workers and craftspeople.
- Groups – Such as self-help groups, youth groups, chamas, and cooperative societies.
- Farmers – Both small and large-scale farmers are welcome.
- Pensioners – Retirees seeking to manage their finances effectively.
This diversity ensures that Taifa Sacco provides accessible financial services across various economic activities.
Taifa Sacco Membership Requirements
To join Taifa Sacco, prospective members must meet certain requirements depending on their membership type:
(a) Individuals
- Original and Copy of Identification Document: This can be a National ID card, military ID, passport, or driving license.
(b) Groups
- Group’s Resolution (Minutes): Formal minutes documenting the decision to join Taifa Sacco.
- Signatories’ Identification: Original and copy of ID cards of the group’s designated signatories.
- Registration Certificate: Original and copy of the group’s registration certificate.
(c) Business Accounts
- Signatories’ Identification: Original and copy of ID cards of the business account signatories.
- Business Registration Certificate: Original and copy of the certificate proving the business is legally registered.
(d) Children Accounts
- Birth Certificate: Copy of the child’s birth certificate.
- Parent/Guardian’s Identification: Original and copy of the parent or guardian’s ID card.
How to Join Taifa Sacco
To become a member, follow these simple steps:
- Visit the Nearest Taifa Sacco Branch
You can find the nearest branch through Taifa Sacco’s website or inquire via their contacts. - Open a Membership Account with Kshs 1,100
- Kshs 100 for account opening.
- Kshs 500 for savings.
- Kshs 500 for shares (5 shares at Kshs 100 each). The minimum required share subscription is 100 shares, which amounts to Kshs 10,000.
Members can continue to boost their shares and savings through multiple channels, including Mpesa, standing orders, or direct cash deposits at any Taifa Sacco branch.
Taifa Sacco stands out as an inclusive financial cooperative that serves a diverse range of members, from salaried individuals to farmers, business owners, and groups. With minimal membership requirements and flexible options to grow savings and shares, the Sacco provides an excellent platform for anyone looking to save, access affordable loans, and enhance their financial stability.
For more information or assistance in joining Taifa Sacco, feel free to reach out through their contact details:
Head Office: NCU Building, Gakere Road, Nyeri Town
Contacts: 0733 120 101 / 0724 635 463 / 0733 120 703
